Vinson & Elkins is representing oil and gas company Denbury Resources in its $1.7 billion acquisition of Penn Virginia Corp., which is using Skadden, Arps, Slate, Meagher & Flom and Gibson, Dunn & Crutcher for the oil and gas deal.

On Oct. 28, Plano-based Denbury and Penn Virginia, based in Radnor, Pennsylvania, announced a definitive merger agreement calling for Denbury to acquire Penn Virginia for about $1.7 billion including assumed debt. Denbury is an independent oil and gas company with operations focused in the Gulf Coast and Rocky Mountain regions, while Penn Virginia operates in the Eagle Ford Shale in south Texas.

The transaction was unanimously approved by the boards of directors of each company, and Penn Virginia shareholders holding 15 percent of outstanding shares signed an agreement to vote in favor of the deal. The transaction is expected to close during the first quarter of 2019, subject to approval by Penn Virginia shareholders, and also approval by Denbury’s stockholders of the issuance of common stock. It is also subject to antitrust approvals and customary closing conditions.